Convergence Investment Partners LLC Raises Position in Palantir Technologies Inc. $PLTR

Convergence Investment Partners LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 438.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,436 shares of the company’s stock after buying an additional 7,685 shares during the period. Convergence Investment Partners LLC’s holdings in Palantir Technologies were worth $1,380,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Basepoint Wealth LLC purchased a new position in Palantir Technologies during the 4th quarter worth $29,000. Morton Brown Family Wealth LLC raised its holdings in shares of Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after purchasing an additional 125 shares during the last quarter. Cornerstone Financial Management LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $31,000. Clayton Financial Group LLC lifted its position in shares of Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Finally, Wexford Capital LP bought a new position in shares of Palantir Technologies during the third quarter valued at about $36,000. Institutional investors own 45.65% of the company’s stock.

Trending Headlines about Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir’s AI software demand continues to support rapid revenue growth, with recent coverage highlighting strong first-quarter results, rising contract value, and growing adoption of its Artificial Intelligence Platform by U.S. commercial customers. Palantir Stock Extends Recovery on Strong AI Software Demand
• Positive Sentiment: Multiple bullish outlook pieces say Palantir could rally further into its upcoming Aug. 3 report, as investors look for another earnings beat and guidance raise to extend the stock’s recovery. Prediction: Palantir Stock Will Go Parabolic After Aug. 3. Here’s Why
• Positive Sentiment: Commentary also points to Palantir’s unique Ontology platform and its growing footprint across government and enterprise customers as reasons some investors still see substantial long-term upside. Prediction: This Could Be Palantir’s Stock Price By the End of 2027
• Neutral Sentiment: Several articles are debating whether Palantir is now a buy after its pullback, but these pieces mostly reinforce that the key issue remains valuation rather than the company’s operating performance. Palantir Stock Is Down More Than 35% from Its Peak. Is It Finally a Buy?
• Negative Sentiment: Bearish coverage continues to pressure sentiment by emphasizing that Palantir trades at a rich multiple, leaving the stock vulnerable if growth slows or the next update fails to impress. Palantir: The Stock Is Richly Valued With a Forward P/S Multiple of Over 40x, but Is the Growth Story Still Worth Buying Into?

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 1,598 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $160.00, for a total transaction of $255,680.00. Following the transaction, the director owned 55,022 shares of the company’s stock, valued at $8,803,520. This represents a 2.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $54,109,093.76. Following the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. The trade was a 5.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 1,112,270 shares of company stock valued at $150,247,785. 9.53% of the stock is currently owned by insiders.

Palantir Technologies Stock Down 1.6%

Shares of PLTR stock opened at $132.66 on Wednesday. The firm has a market cap of $318.03 billion, a P/E ratio of 149.06, a PEG ratio of 2.16 and a beta of 1.56. The company has a 50 day moving average of $132.09 and a 200-day moving average of $143.38. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business earned $0.13 earnings per share. Palantir Technologies’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, equities analysts expect that Palantir Technologies Inc. will post 1.17 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several analyst reports. Wolfe Research upgraded shares of Palantir Technologies from an “underperform” rating to a “peer perform” rating in a report on Tuesday, June 16th. Citigroup increased their price objective on shares of Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. BNP Paribas Exane began coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They set an “underperform” rating on the stock. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and cut their target price for the stock from $205.00 to $151.00 in a research note on Friday, May 1st. Finally, President Capital raised Palantir Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $25.50 to $133.00 in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $190.85.

Palantir Technologies Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.